The New York Times Company (NYSE:NYT) Receives Consensus Rating of “Moderate Buy” from Analysts

Shares of The New York Times Company (NYSE:NYT) have been assigned a consensus recommendation of “Moderate Buy” from the seven analysts that are presently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $54.71.

NYT has been the topic of several research reports. StockNews.com raised shares of New York Times from a “hold” rating to a “buy” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft increased their price target on New York Times from $65.00 to $66.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley cut their target price on New York Times from $56.00 to $54.00 and set an “equal weight” rating for the company in a research note on Thursday, February 6th. Finally, JPMorgan Chase & Co. upped their price objective on shares of New York Times from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th.

Institutional Trading of New York Times

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. increased its position in shares of New York Times by 1.5% during the third quarter. Franklin Resources Inc. now owns 3,353,792 shares of the company’s stock worth $187,544,000 after acquiring an additional 49,853 shares during the period. Comgest Global Investors S.A.S. grew its position in shares of New York Times by 3.2% during the third quarter. Comgest Global Investors S.A.S. now owns 462,032 shares of the company’s stock worth $25,721,000 after buying an additional 14,407 shares in the last quarter. BNP Paribas Financial Markets raised its holdings in New York Times by 95.3% in the third quarter. BNP Paribas Financial Markets now owns 82,104 shares of the company’s stock valued at $4,571,000 after acquiring an additional 40,058 shares in the last quarter. Clark & Stuart Inc purchased a new stake in New York Times during the 4th quarter worth about $8,490,000. Finally, Park Avenue Securities LLC increased its holdings in shares of New York Times by 236.0% in the 4th quarter. Park Avenue Securities LLC now owns 13,985 shares of the company’s stock valued at $728,000 after acquiring an additional 9,823 shares during the last quarter. Institutional investors and hedge funds own 95.37% of the company’s stock.

New York Times Stock Down 2.0 %

Shares of NYSE NYT opened at $49.74 on Monday. New York Times has a 52-week low of $41.55 and a 52-week high of $58.16. The company’s 50-day simple moving average is $52.72 and its 200-day simple moving average is $53.87. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 1.35 and a beta of 1.01.

New York Times (NYSE:NYT) last released its earnings results on Wednesday, February 5th. The company reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.06. New York Times had a return on equity of 18.51% and a net margin of 11.36%. Equities research analysts anticipate that New York Times will post 2.07 EPS for the current fiscal year.

New York Times Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 17th. Investors of record on Tuesday, April 1st will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.45%. This is a boost from New York Times’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, April 1st. New York Times’s dividend payout ratio (DPR) is 29.21%.

New York Times Company Profile

The New York Times Company, together with its subsidiaries, creates, collects, and distributes news and information worldwide. The company operates through two segments, The New York Times Group and The Athletic. It offers The New York Times (The Times) through company’s mobile application, website, printed newspaper, and associated content, such as podcast.